Buying a home can be tough, especially if you don’t have the credit or enough money for the down payment. In some cases, it may be smart to ask your parents for help. But, as your parents, they may be reluctant to help. The number one way to convince your parents to help you buy a house is to be upfront about the hard questions.
Plan ahead how you’re going to answer the hard questions that you know your parents will ask. If your parents want to know why you can’t afford it, let them know that you don’t have the amount of money saved that the lender is asking for, if that’s the case.
This is better than avoiding the question or lying your way out of it. It may even be easier to come prepared with details about your income, debt and current credit score.